Buying Metaverse Land

The Q2 DappRadar report found while metaverse token prices dropped, the volume of traders buying land in the metaverse rose this quarter. That increasing volume in metaverse land trading is an indication that virtual metaverse worlds are still popular among gamers, DappRadar concluded.

Crypto gaming communities remain loyal and engaged even during the bear market most cryptocurrency tokens have been in since the total crypto market cap hit $3 trillion in November 2021.

As we reported on this week the DappRadar industry report identified blockchain gaming and its related native tokens as being more resilient during the crypto winter than DeFi projects.

Metaverse tokens did drop in value – the report notes Axie Infinity (AXS) and Mobox (MBOX) were the hardest hit, retracing by 90 – 95%. Decentraland (MANA) and The Sandbox (SAND) corrected by 83%.

Buying land in the metaverse

Q2 2022 virtual land trading volume – DappRadar

However the overall trading volume of virtual real estate within metaverse games – metaverse land plots – increased, their sales volume ‘up 97% across the board this quarter’.

DappRadar added:

‘Compared to Q2 2021, the volumes are up 2007% despite the bear market, and the sales count is equally impressive with a 220% increase.

This bullish activity indicates that engagement with the virtual worlds is not predicated on their profitability to the end-user. It shows virtual worlds are intrinsically fun to the end-user as the communities remain active despite the devaluation of native tokens.’

Ethereum trading volume increased more than Polygon trading volume – for example Otherdeed for Otherside NFTs (representing virtual real estate in the Otherside metaverse game) now have a total trading volume on OpenSea of 318,000 ETH.

That’s an increase of 84% since early May shortly after Otherdeed for Otherside had their public Genesis mint. The Otherdeeds floor price today on OpenSea marketplace (2.8 ETH) is lower than in early May however (4 ETH).

We recently wrote a guide on how to invest in the metaverse, including buying metaverse land and investing in metaverse games. We picked out one currently active presale for that native coin of upcoming NFT based game Battle Infinity, IBAT token.

Battle Infinity - New Metaverse Game

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Battle Infinity
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